Regulation 8 Payments
The Department shall pay the amount to be lent to an eligible student under regulation 6(5) in instalments in accordance with the following provisions—
if the first instalment is paid during the first quarter of the academic year, the amount shall be paid in three equal instalments;
if the first instalment is paid during the second quarter of the academic year, the amount shall be paid in two instalments, the first amounting to two thirds of the amount, and the second one third of the amount; and
if the first instalment is paid during the third or fourth quarter of the academic year, the amount shall be paid in one instalment.
The Department shall pay any additional amount to be lent to an eligible student under regulation 6(8) in instalments in accordance with the following provisions—
if the first instalment is paid during the first quarter of the academic year, it shall be paid in three equal instalments, the second and third of which shall be paid with the second and third instalments referred to in paragraph (1)(a);
if the first instalment is paid during the second quarter of the academic year, it shall be paid in two instalments, the first amounting to two thirds of the additional amount to be lent, and the second one third of that amount, the second to be paid with the second instalment referred to in paragraph 1(b); and
if the first instalment is paid during the third or fourth quarter of the academic year, it shall be paid in one instalment.
Not more than one instalment shall be paid in respect of each quarter of the academic year and where there are more quarters during which instalments could be paid than the number of instalments payable, no instalments shall be paid in respect of the quarter during which, in the opinion of the Department, the longest of any vacations is taken.
The first instalment of a loan shall be paid under this regulation to an eligible student not later than 30 days after the Department has received a satisfactory loan application form relating to that student under regulation 6(1) or (6) and any subsequent instalment shall be paid during the quarter in respect of which it is paid.
Payments shall be made by electronic transfer to the student’s account or, if the student does not have such an account, by such other means as the Department considers appropriate.
Subject to regulation 9 an instalment of a loan shall not be paid after a student has withdrawn from, abandoned or been expelled from, the designated course in relation to which the loan was made.
An instalment of a loan shall not be paid when a student is absent from the course in relation to which the loan was made, unless in the opinion of the Department in all the circumstances it would cause exceptional hardship to suspend the payment of instalments.
A student shall not be considered to be absent from his course if he is unable to attend due to illness and his absence has not exceeded 60 days.
If the payment of instalments of a loan to a student has been suspended under paragraph (6) or (7) and before the end of the academic year the student commences attending his course again the Department may pay the further instalments of the loan but may reduce the amount of the loan and the amount of any further instalments of it in such proportions as it considers appropriate in the circumstances.